CTN operator GT News has reported a 13.8% increase in profits as it reaps the rewards of its ongoing store reorganisation programme.

Profits rose to £436,355 in the year to 30 June 2013, GT News said, although sales dipped 1.6% to £27.2m following the closure of four stores.

“This is another positive performance against the economic backdrop - we were extremely content with the performance,” MD Mark Titterton said.